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454 sats \ 3 replies \ @antic 3 Dec 2023 \ on: What's really scarce in btc? bitcoin
I think a good way of countering the argument that Bitcoin can be forked or copied is to compare it to Facebook. Anyone can launch a copy of a social network or a newer or “better” version of it—but that doesn’t copy the network of users that are on Facebook. Rather than the existence or potential of new social networks making Facebook worthless, it makes Facebook worth more every time they prove that another network can’t take their supremacy away. And over time, everyone is sucked into it because that’s where people already are. Ethereum only has so much power because they fronted the shitcoin minting and garbage NFT network. But those are not fundamental draws or features.
Also, following that, when a different commitment can steal a bunch of the users. Migrations to Substack away from Twitter being the relevant example in my life right now; or Trump's network, whatever that's called. If one of the principal things you're committing to is fealty to Trump's mindfuck universe, network effects can be overcome.
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Very good point. Same thing when Zuckerburg's twitter copy flopped. Network effect is overriding
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Exactly. Twitter and Facebook each have different network effects and usages just like Bitcoin and Ethereum. If you want hard money, Bitcoin. If you want shitcoins and scams on a blockchain that can be rolled back, Ethereum.
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